Cost of Sales for FQ3 was $14 million or 56.2% of sales as compared to $7.5 million or 47.2% of sales a year earlier. Our cost of sales consists of the raw material cost, labor, depreciation and amortization of manufacturing equipment and facilities and other overhead.Gross Margin for FQ3 was 43.6% as compared to 52.8% for the quarter ended March 31 st 2010. The decrease in gross margin was attributable to the average 15% TMT distribution revenue. In addition, the pricing pressure on our generic product also leads to the gross margin reduction.
Tianyin Pharmaceutical's CEO Discusses FQ3 2011 Results - Earnings Call Transcript
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